OIL & GAS

Gujarat Gas gains after PNGRB transfers two GAs

Gujarat Gas rose 3.25% to Rs 319.50 after the oil regulator sanctioned the transfer of two geographical areas (GAs) from Gujarat State Petronet to the company.

The Petroleum and Natural Gas Regulatory Board (PNGRB) had accepted proposal for transfer of authorization of Amritsar District GA and Bhatinda District GA from Gujarat State Petronet (GSPL) to Gujarat Gas (GGL).

The company is required to submit revised financial closure, gas supply agreement and PBG (performance bank guarantee) to PNGRB to complete the process of transfer.

Accordingly, PNGRB has permitted the company to take over activities of laying, building, operating or expanding CGD (city gas distribution) network of Amritsar District GA and Bhatinda District GA, GGL said.

Source
business standard
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close